24-R-51 EDC Performance Agreement- Mile Hi San Antonio, LLCRESOLUTION NO.24-R-51
A RESOLUTION BY THE CITY COUNCIL OF THE CITY OF SCHERTZ
TEXAS AUTHORIZING AN EXPENDITURE AS REFELCETED IN AN
ECONOMIC DEVELOPMENT PERFORMANCE AGREEMENT
BETWEEN THE CITY OF SCHERTZ ECONOMIC DEVELOPMENT
CORPORATION AND MILE HI SAN ANTONIO LLC AND OTHER
MATTERS IN CONNECTION THEREWITH
WHEREAS, the City of Schertz Economic Development Corporation ("SEDC") is a non-
profit industrial development corporation duly established under the Development Corporation
Act of 1979, as amended (Section 501.001 et seq. Texas Local Government Code, formerly the
Development Corporation Act of 1979) (the "Act");
WHEREAS, all of the powers of the corporation are vested in the SEDC Board of
Directors (the "Board") appointed by the governing body of the corporation's authorizing unit;
and
WHEREAS, the Act authorizes a development corporation to fund certain projects as
defined by the Act and request development corporations enter into incentive agreements to
establish and provide for the direct incentive or make an expenditure on behalf of a business
enterprise under a project; and
WHEREAS, over the term of the agreement, Company intends to create and maintain 150
full time employees with a minimum annual payroll of $10,800,000; and
WHEREAS, over the term of the agreement, Company and/or third -party developer
intends to invest $50,000,000 in tangible real and person property at the facility; and
WHEREAS, Corporation intends to provide an Operational Grant in two payments, one
in the amount of $500,000 at the time Company receives it Certificate of Occupancy and provides
proof of investment of $40,000,000 and another $500,000 at the time Company hires 150
employees at their Schertz location; and
WHEREAS, Corporation intends to provide a Property Tax Rebate on Real and Personal
taxes of the increment amount paid by the company of 100% for calendar year 2026, 2027, 2028,
a 90% new incremental rate based for calendar years 2029, 2030, 2031, and a 50% new incremental
rebate for calendar years 2032, 2033, 2034, and 2035 based upon the taxes paid by Company for
the real and tangible person property on -site at Company's Schertz operation.
WHEREAS, The SEDC held a public hearing at its April 25, 2024 meeting and the Board
approved SEDC Resolution 2024-5 authorizing an Economic Performance Agreement between
the City of Schertz Economic Development Corporation and Mile Hi San Antonio LLC subject to
the City Council's authorization.; and
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY
OF SCHERTZ, TEXAS THAT:
Section 1. The City of Schertz City Council hereby authorizes the expenditure reflected in the
Economic Development Performance Agreement attached hereto as ATTACHMENT A.
Section 2. The recitals contained in the preamble hereof are hereby found to be true, and such
recitals are hereby made a part of this Resolution for all purposes and are adopted as a part of the
judgment and findings of the Board.
Section 3. All resolutions, or parts thereof, which are in conflict or inconsistent with any
provision of this Resolution are hereby repealed to the extent of such conflict, and the provisions
of this Resolution shall be and remain controlling as to the matters resolved herein.
Section 4. This Resolution shall be construed and enforced in accordance with the laws of the
State of Texas and the United States of America.
Section 5. If any provision of this Resolution or the application thereof to any person or
circumstance shall be held to be invalid, the remainder of this Resolution and the application of
such provision to other persons and circumstances shall nevertheless be valid, and the board hereby
declares that this Resolution would have been enacted without such invalid provision.
Section 6. It is officially found, determined, and declared that the meeting at which this
Resolution is adopted was open to the public and public notice of the time, place, and subject
matter of the public business to be considered at such meeting, including this Resolution, was
given, all as required by Chapter 551, Texas Government Code, as amended.
Section 7. This Resolution shall be in force and effect from and after its final passage, and it
is so resolved.
PASSED AND ADOPTED, this _1 day of 11A Z , 2024.
ATTEST:
# y4t4l�
Shei9, Edmondson, C ty Secretary
CITY OF SCHERTZ
Ra# Gu ' rrez, Mayor